world’s largest cryptocurrency Coinbase, one of the exchanges, is based in New York. XRP announced the resumption of trade.
The announcement was made by Paul Greal, Coinbase’s Chief Legal Officer, and Greal said: “XRP trading on Coinbase is available again in NY. We listened and worked in strong partnership with the state. “And now we can announce that we are back in operation.”
XRP trading has been restricted in New York since December 2020, when the New York Attorney General’s Office filed a lawsuit against Ripple Labs. This led to many cryptocurrency exchanges suspending XRP trading for New York residents.
However, New York residents looking to purchase XRP had to resort to using a cryptocurrency exchange registered with the New York State Department of Financial Services (NYDFS) and authorized to operate in the state. Some of these exchanges were Bitstamp, Bitfinex and Bittrex.
In a significant development last July, Coinbase, along with other exchanges, moved to relist the controversial token following a court ruling stating that secondary sales of XRP were not securities. Despite this, trade was not supported in New York until now.
*This is not investment advice.
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